aju
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Post by aju on May 1, 2020 14:50:28 GMT
I'm sure this has been answered before but I tried to find evidence but gave up after searching and reading for 20 minutes or more, apologies if this has already been dealt with.
I am curious now that Access contracts seem to be a little easier to identify but now have an issue with so called "New contracts" I now have that some that are non amortizing and last a long time.
So I understand how that could be but I am concerned about selling these loans if I wanted to, how does this really work and worse how long might it take to sell them too.
1. If I sell in 6 months will I get interest for the period I held the loan/s?
2. Might these loans take longer to sell than say an amortizing loan (I'm guessing not but I've never sold anything on RS as yet and am currently moving all returns to Access where rates/risk are more acceptable to me at present.)
I'm trying to understand again the New contracts and Existing contracts as I seem to have one of my so called new contracts defined as a loan I picked up in Jan. RS describes "new contracts" as My contract date for the loan in question is 30/01/2020 but has RS made a gaff here and is stuck since the Next payment date is detailed as 30/07/2021!. The loan runs for 61 months from start point.
Needless to say I am quite confused after thinking it made some sense the other day when this new presentation method appeared.
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robski
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Post by robski on May 1, 2020 19:48:32 GMT
Re interest yes you get it if you sell On your main page you will see under interest accrued but not paid, this ticks up monthly
I dont think the new/existing things works
I havent any new matches for months, yet some of mine show as new
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aju
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Post by aju on May 1, 2020 22:56:38 GMT
Re interest yes you get it if you sell On your main page you will see under interest accrued but not paid, this ticks up monthly I dont think the new/existing things works I havent any new matches for months, yet some of mine show as new Thanks, i'm starting to see that as well now I look closer. I've got a spreadsheet that monitors each new loan and i think you are right. At some point they will probably notice. I wish some of these companies would spend some of their seed money etc on good design and programming but I guess today its all done in such a rush...
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